The damage done by subsidies - The Dismal Science
Paul Walker • Aug 15, 2014 •
From the Economist magazine comes this piece on China'a subsidies to ship building. In 2006 China enacted a “Long and Medium-Term Plan” [read subsidies to shipyards] to enlarge its shipping industry by 2015.Yet economists’ views on subsidies have hardened over time. China’s policy provides subsidies both for the construction of ships themselves and for the building … Read More